Is virtual currency a commodity or currency?

(1) What is the difference between digital currency and virtual currency

Difference: different in nature, issuer, and circulation method

Difference 1: Different in nature

Digital currency refers to the digital RMB, which is a legal encrypted digital currency and an alternative currency in the form of electronic currency; virtual currency refers to non-real currency, and now refers specifically to the currency in the virtual economy of the network.

Difference 2: The issuer is different

The issuer of digital currency is the central bank, while the issuer of virtual currency is not the central bank.

Difference 3: Different circulation methods

Digital currency can be used for real commodity and service transactions and can be circulated in real life; while virtual currency can only It circulates in a specific virtual environment, such as Tencent Q coins and other game coins.

(1) Is virtual currency a commodity or currency Extended reading:

Characteristics of digital currency:

1 , Low transaction costs

Compared with traditional bank transfer, remittance and other methods, digital currency transactions do not need to pay fees to third parties, and their transaction costs are lower, especially compared to payment service providers Provide cross-border payments with high fees.

2. Fast transaction speed

The blockchain technology used in digital currency has the characteristics of decentralization, and does not require any centralized organization similar to a clearing center to process data, transaction Processing speed is faster.

3. High anonymity

In addition to the physical form of currency that can realize peer-to-peer transactions without intermediary participation, one of the advantages of digital currency compared to other electronic payment methods is that it supports The remote peer-to-peer payment does not require any trusted third party as an intermediary, and both parties can complete the transaction in a completely unfamiliar situation without trusting each other, so it has higher anonymity and can protect the privacy of the trader.

But at the same time, it also creates convenience for cybercrime, which is easy to be used by money laundering and other criminal activities.

(II) Is virtual currency a commodity?

D
Excluding the electronic currency of the banking system, online virtual currency can be roughly divided into
The first category is the familiar game currency. In the era of stand-alone games, the protagonist accumulated currency by defeating enemies and winning money in casinos, and used these to buy herbs and equipment, but they could only be used in their own game consoles. Back then, there was no “market” among players. Since the Internet has established portals and communities and realized the networking of games, virtual currency has had a “financial market”, and players can trade game currency between players.
The second category is the special currency issued by the portal website or the instant messaging tool service provider, which is used to purchase the services on this website. The most widely used is Tencent’s Q coin, which can be used to purchase value-added services such as membership and QQ show.

(iii) Is Bitcoin a commodity or a currency?

The concept of Bitcoin (BitCoin) was originally proposed by Satoshi Nakamoto in 2009, and is an open source software designed and released according to Satoshi Nakamoto’s ideas And construct the P2P network on it. Bitcoin is a P2P form of digital currency. Peer-to-peer transmission means a decentralized payment system.
Unlike most currencies, Bitcoin is not issued by a specific currency institution. It is generated by a large number of calculations according to a specific algorithm. The Bitcoin economy uses a distributed database composed of many nodes in the entire P2P network to confirm and record all The transaction behavior, and the use of cryptographic design to ensure the security of all aspects of currency circulation. The decentralized nature of P2P and the algorithm itself can ensure that the value of the currency cannot be artificially manipulated by mass-producing Bitcoin. The cryptography-based design allows Bitcoin to be transferred or paid only by the true owner. This also ensures the anonymity of currency ownership and circulation transactions. The biggest difference between Bitcoin and other virtual currencies is that its total amount is very limited and it has a strong scarcity. The currency system used to have no more than 10.5 million for 4 years, after which the total number will be permanently capped at 21 million.

㈣ Is paper money money? Is virtual money money? Is it a commodity? Is it valuable? What about electronic money? Of course banknotes are money, and virtual money is money too.
Money is not a commodity, but a general equivalent for the exchange of commodities.
Electronic money is virtual money and has the same value as paper money.

(v) Is virtual currency a currency or an asset?

Virtual currency is a legal virtual asset and is protected by law. In China, virtual currency is defined by the central bank as a special Internet commodity. People can freely buy and sell it at their own risk, but their currency attributes are denied. Bitcoin, Ritecoin, Litecoin, and Dogecoin are all types of virtual currencies, and they can all be regarded as virtual assets.

㈥ Is virtual currency a commodity? What is the difference between it and real currency, please? 3Q

I think, open.�� This virtual currency should be considered a product of labor, because it must be exchanged for real currency.

㈦ Whether bitcoin is a currency or a specific virtual commodity

It is not real currency, it is a kind of electronic currency, but it cannot be accepted by the financial society. The concept of Bitcoin (BitCoin), which can be regarded as a virtual commodity, was originally proposed by Satoshi Nakamoto in 2009, and the open source software designed and released according to the ideas of Satoshi Nakamoto and the P2P network built on it. Bitcoin is a P2P form of digital currency. Peer-to-peer transmission means a decentralized payment system. The decentralized nature of P2P and the algorithm itself can ensure that the value of the currency cannot be artificially manipulated by mass-producing Bitcoin. The cryptography-based design allows Bitcoin to be transferred or paid only by the true owner. This also ensures the anonymity of currency ownership and circulation transactions. The biggest difference between Bitcoin and other virtual currencies is that its total amount is very limited and it has a strong scarcity. The currency system used to have no more than 10.5 million for 4 years, after which the total number will be permanently capped at 21 million.
Compared with fiat currency, Bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes. Anyone can participate in the creation of Bitcoin, and it can be circulated around the world and can be accessed at any one. Buying and selling on the computer on the Internet, no matter where they are, anyone can mine, buy, sell or receive bitcoin, and outsiders cannot identify user identity information during the transaction process.
Bitcoin is an online virtual currency with a limited amount, but it can be used to cash out: it can be exchanged into the currencies of most countries. You can use bitcoin to buy some virtual items, such as clothes, hats, equipment, etc. in online games. As long as someone accepts it, you can also use bitcoin to buy real-life items.

㈧ Is virtual currency a commodity? What is the difference between it and real currency?

Virtual currency can be exchanged and traded in the form of RMB to a certain extent… than Q coins and other The game currency of online games…but the premise is that it needs to be paid in RMB…so virtual currency is just a form of online payment for RMB…It is still difficult to use it as a yuan today.
Virtual currency is currency that has value but cannot be directly exchanged for actual items. (such as stocks, bonds, etc.) Therefore, virtual currency is not a commodity.

(ix) Are virtual currencies and commodities in the network commodities?

Commodities are the products of labor for exchange. Basic attributes Value: The value of a commodity is the undifferentiated human labor condensed in the commodity. Use value: that is, the property that a commodity can satisfy a certain need of people.

Virtual currency and commodities in the network It is a labor product for exchange in the virtual world, but it cannot be used as a commodity in real life. However, if the commodity in the online game is q currency exchange , and q coins are exchanged with real coins in real life, so the commodities in online games condense human labor, and they are valuable and commodities.

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